I completely agree with my hon. Friend, and there is a further point. There is a great deal of transparency in the way in which the regulatory system works. The issues are put on the table for everybody to consider but they were never available for consideration in that way when those industries were nationalised and decisions were taken bilaterally in ministerial offices. The last thing that Labour took account of when it was in government was the interests of consumers. It took account the whole time of its political interests and the interests of the then Labour-run Treasury.